Walled Lake Planning & Wealth Management LLC Cuts Stake in Visa Inc. (NYSE:V)

Walled Lake Planning & Wealth Management LLC reduced its stake in Visa Inc. (NYSE:VGet Rating) by 9.5% during the fourth quarter, HoldingsChannel reports. The fund owned 5,340 shares of the credit-card processor’s stock after selling 561 shares during the period. Walled Lake Planning & Wealth Management LLC’s holdings in Visa were worth $1,157,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Outfitter Financial LLC purchased a new position in Visa in the fourth quarter worth about $27,000. Cranbrook Wealth Management LLC boosted its position in Visa by 236.8% in the third quarter. Cranbrook Wealth Management LLC now owns 128 shares of the credit-card processor’s stock worth $29,000 after purchasing an additional 90 shares during the last quarter. Blue Bell Private Wealth Management LLC purchased a new position in Visa in the fourth quarter worth about $32,000. Disciplined Investments LLC boosted its position in Visa by 500.0% in the fourth quarter. Disciplined Investments LLC now owns 168 shares of the credit-card processor’s stock worth $36,000 after purchasing an additional 140 shares during the last quarter. Finally, Stuart Chaussee & Associates Inc. boosted its position in Visa by 50.0% in the fourth quarter. Stuart Chaussee & Associates Inc. now owns 168 shares of the credit-card processor’s stock worth $36,000 after purchasing an additional 56 shares during the last quarter. 80.77% of the stock is currently owned by hedge funds and other institutional investors.

Several brokerages have issued reports on V. Barclays dropped their target price on Visa from $265.00 to $260.00 and set an “overweight” rating on the stock in a research report on Monday, April 4th. Evercore ISI raised their target price on Visa from $304.00 to $310.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 27th. raised Visa to a “buy” rating in a research note on Wednesday, February 9th. Credit Suisse Group raised their price objective on Visa from $260.00 to $265.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 27th. Finally, Cowen decreased their price objective on Visa from $276.00 to $254.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 27th. Six analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $265.24.

NYSE V traded up $5.26 during trading on Friday, hitting $199.23. 6,684,482 shares of the stock traded hands, compared to its average volume of 7,992,791. The company has a market capitalization of $378.79 billion, a P/E ratio of 31.33, a price-to-earnings-growth ratio of 1.68 and a beta of 0.90. The firm has a 50-day simple moving average of $211.67 and a 200-day simple moving average of $212.88. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.53. Visa Inc. has a 12-month low of $186.67 and a 12-month high of $252.67.

Visa (NYSE:VGet Rating) last released its quarterly earnings results on Tuesday, April 26th. The credit-card processor reported $1.79 earnings per share for the quarter, beating the consensus estimate of $1.65 by $0.14. The business had revenue of $7.19 billion during the quarter, compared to analysts’ expectations of $6.82 billion. Visa had a return on equity of 42.89% and a net margin of 51.10%. The firm’s revenue for the quarter was up 25.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.38 EPS. As a group, research analysts predict that Visa Inc. will post 7.14 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 1st. Shareholders of record on Friday, May 13th will be issued a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 0.75%. The ex-dividend date of this dividend is Thursday, May 12th. Visa’s dividend payout ratio is presently 23.58%.

In other news, Director Robert W. Matschullat sold 1,114 shares of Visa stock in a transaction that occurred on Wednesday, March 16th. The stock was sold at an average price of $210.94, for a total value of $234,987.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Alfred F. Kelly, Jr. sold 9,000 shares of Visa stock in a transaction that occurred on Friday, April 29th. The stock was sold at an average price of $218.62, for a total value of $1,967,580.00. Following the completion of the transaction, the chief executive officer now owns 165,887 shares of the company’s stock, valued at approximately $36,266,215.94. The disclosure for this sale can be found here. Insiders have sold a total of 41,047 shares of company stock valued at $9,030,622 in the last 90 days. 0.21% of the stock is currently owned by company insiders.

About Visa (Get Rating)

Visa Inc operates as a payments technology company worldwide. The company facilitates digital payments among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions.

See Also

Want to see what other hedge funds are holding V? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Visa Inc. (NYSE:VGet Rating).

Institutional Ownership by Quarter for Visa (NYSE:V)

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